TLG: Supervisory board chairman warns shareholders about Ouram’s proposal
The push by Amir Dayan or his Ouram Holding to reappoint the TLG supervisory board has prompted the chairman of the board, Michael Zahn, to write a letter to the shareholders. He points out that minority shareholder Ouram – currently in possession of over 23 % of TLG shares with a purchase option to increase up to nearly 30 % – could gain control of the company without a takeover offer to the other shareholders. “By gaining control of the supervisory board, Mr. Dayan would be able to reappoint the executive board and thereby direct TLG’s business policy according to his wished and priorities,” Zahn writes. Ouram says in a stement that it has no such intentions. With regard to Ouram’s proposal to dismiss him, Michael Bütter, and Helmut Ullrich from the supervisory board during an extraordinary general meeting in March, Zahn states that his and Büttner’s mandate will expire at the regular general meeting in May anyway.
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